The PNC Financial Services Group, Inc (PNC) Beats Stock Market Upswing: What Investors Need to Know
The latest trading session saw The PNC Financial Services Group, Inc (PNC) ending at $151.77, denoting a +1.4% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 1.03% for the day. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.26%.
The the stock of company has risen by 16.98% in the past month, leading the Finance sector's gain of 6.15% and the S&P 500's gain of 3.01%.
Investors will be eagerly watching for the performance of The PNC Financial Services Group, Inc in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 16, 2024. The company's earnings per share (EPS) are projected to be $3.01, reflecting a 13.75% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.27 billion, indicating an 8.59% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $13.88 per share and a revenue of $21.42 billion, demonstrating changes of -0.57% and +1.44%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for The PNC Financial Services Group, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. The PNC Financial Services Group, Inc is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, The PNC Financial Services Group, Inc is presently trading at a Forward P/E ratio of 10.79. This represents a premium compared to its industry's average Forward P/E of 9.89.
We can also see that PNC currently has a PEG ratio of 1.33. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Banks - Major Regional industry held an average PEG ratio of 1.48.
The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
